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Grander Mortgage Capital Order Refusing to Renew and Terminating Loan Servicer License

Order
Friday, August 28, 2020
Docket No. 20-025-B

 

In Re:       Grander Mortgage Capital LLC           )        DOCKET NO. 20-025-B

      NMLS# 1065200                                     )

                                                                        )

ORDER REFUSING TO RENEW AND TERMINATING LOAN SERVICER LICENSE

 

The Commissioner of the Department of Financial Regulation issues this Order refusing to renew and terminating the loan servicer license of Grander Mortgage Capital LLC (“Grander Mortgage”).

Jurisdiction and Authority

 

Findings of Fact

2.  Grander Mortgage (NMLS # 1065200) currently holds a Vermont loan servicer license.

            3.  The California Department of Business Oversight revoked Grander Mortgage’s license on January 30, 2020. Order Revoking Residential Mortgage Lending and/or Servicing License Pursuant to Financial Code Section 50327, CRMLA LICENSE NO.: 41DBO-93591

4.  California has not vacated the revocation or otherwise reinstated Grander Mortgage’s California license.

5.  Grander Mortgage has not completed the renewal of its Vermont Loan Servicer License, has not appointed a qualifying individual, and has not resolved additional outstanding license items necessary to renew its license, as noted in Grander Mortgage’s NMLS records.

Conclusions of Law

6.  Having its license revoked in another state constitutes grounds for the Commissioner to refuse to renew and terminate Grander Mortgage’s Vermont Loan Servicer License.  8 V.S.A. §§ 2103(a)(4), 2110.

7.  Grander Mortgage’s failure to complete the renewal of its loan servicer license and resolve the outstanding issues to complete its renewal constitute grounds for the Commissioner to refuse to renew and terminate Grander Mortgage’s Vermont loan servicer license.  8 V.S.A. §§ 2109, 2110.

8.  Licensees are required to notify the Department of any change in location or closing of a place of business.  8 V.S.A. § 2106(c).  Mailing notice to the licensee’s current address as stated on the license shall be presumptive evidence of its receipt by the licensee.  8 V.S.A. §2110(c).  The Department provided Grander Mortgage with reasonable written notice and an opportunity for a hearing by mailing the Administrative Charges and Notice of Hearing Rights (“Administrative Charges”), via certified mail, to Grander Mortgage’s address as stated on its license and to its last known address, and by emailing the Administrative Charges to Grander Mortgage’s last known email address.  Grander Mortgage did not request a hearing or otherwise defend against the charges.

ORDER

Pursuant to the authority contained in 8 V.S.A. Chapters 1, 72, and 85, the Vermont Administrative Procedures Act (3 V.S.A. §§ 809 et seq.), and Department Regulation B-82-1, it is hereby ordered:

 

9.  The Commissioner hereby refuses to renew and terminates Grander Mortgage’s loan servicer license as of the date of this Order.

By Order of the Commissioner

Entered this _____ day of August 2020

__________________________________                           

Michael S. Pieciak, Commissioner

Vermont Department of Financial Regulation

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Department of Financial Regulation
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

802-828-3301
833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

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